Economic Pulse: Unemployment rate lowest since 2000

Each month the California Employment Development Department (EDD) releases industry data for the prior month. This edition of San Diego’s Economic Pulse covers May 2018 data, including unemployment, new business establishments, and job postings.

Highlights include:

The region’s unemployment rate was 2.9 percent in May, unchanged from April’s revised rate, and 0.8 percentage points lower than a year ago – the lowest since January 2000.

The majority of jurisdictions saw a decrease in unemployment rate from the month prior. Only National City saw its unemployment rate rise, an increase of 0.1 percentage points to 4.0 percent.

The labor force grew slightly, adding 900 workers during the month, up 0.1 percent. The labor force is now up 4,300 compared to a year ago, or 0.3 percent.

The largest increases came from leisure and hospitality, which added 2,100 jobs. Education and health services saw the only employment declines of any industry group, contracting by 300 jobs.